Magnetic/kinetic energy production.

So lets say you have a magnetic ring, that is held in a vacuum that is sealed so it's safe from outside forces. And there are other magnets inside the object that makes the ring spin. You have it to where the only friction comes from the ring hitting something, to produce energy through the movement of it makes heat, or it uses the kinetic energy for powering something, would that work, or would this just be a whole waste of time?

I'm still in high school, and I haven't done physics so there may be forces I'm overlooking that will be obvious to someone who has studied it.

Jan 23 2014:
Assuming your experiment was successfully set up as you describe, how would the 'other magnets' make the magnetic ring spin?

As I assume all magnets would be permanent magnets (no electro-magnets), the whole system of magnetic forces would get itself within a force equilibrium, by which no ongoing spinning could sustain nor would it occur.

To make and keep the magnetic ring spinning, the polarization of the other magnets had to switch in synchronization with the rotation into opposing states towards the ring polarity and position, because only this way motion could be created and maintained.

Yet as as the polarization of a permanent magnet is fixed, only electro-magnets could be used for this alternation in polarization, for which more energy was needed as the kinetic energy of the spinning ring could possibly deliver out of the system, by whatever method.

It would be a waste of time to build such a device, yet it is never a waste of time to think about those things, because it makes understanding physics way more fun and therefore effective.

Keep up your thought experiments!

Cheers

P.S. Here are some entertaining and hands on experiments done by Myth Busters related to 'free energy':

Jan 21 2014:
1.making heat.
2. Electricity, not energy. Law of conservation of energy says the universe has all of the energy it will ever have.
3. We can't produce a perfect vaccume. Even space has particles.
4. Your talking perpetual motion, and that is physically impossibe so far.
5. Despite all of the above, if you can make it work, good job.
6. Electricity as we know it is generally produced by a coil of wire with a spinning magnet inside or vise versa. Just an idea you may need to factor in.
7.how are you getting the electricity out of it without wires.
8. Check out my coversation on the world wireless system for a possible answer to 7.
9. Sorry for going so hard on you but I know what it feels like to be that high school kid who is trying to make it with adults. Just a tip, a few years before I turned 18, I would lie about my age. I don't have to now but back then it made me more relyable online.

Jan 21 2014:
This idea needs to be clarified, make sure you know what you are talking about. If its induction then talk about Faraday's law. When you say sealed then this does not stop say gravity from acting on it nor does it stop high energy particles from getting through or for that matter particles such as neutrinos which are barely effected by any other particles.